Newport Beach California Divorce Attorney for Business Owners and Their Spouses
In California, property division laws dictate that all marital property is to be divided equally unless a different arrangement is agreed upon. However, when one or both parties of a divorce own a business or have significant ownership interest in a business, the property division process becomes complicated.
The Law Offices of Wendy L.C. Fountain, A PC, offers compassionate, supportive, and skilled family law guidance to clients in Orange County and surrounding areas. We help you obtain the necessary business valuations and other property appraisals to ensure your property division agreement is fair.
Is a Business Part of Your Marital Estate?
It is important to identify when a business is actually part of the marital estate and thus subject to distribution. If the business was brought into the marriage as separate property, and was kept separate throughout the marriage, then it is possible that the business will not be part of the property settlement agreement, except for any appreciation of the business over the course of the marriage. However, if the business was ever commingled with joint assets, it will be difficult to keep the business out of the divorce.
At the Law Offices of Wendy L.C. Fountain, A PC, we represent clients who have ownership interest in a business, who operate a business jointly with their spouse, or who have a spouse who owns a business. We identify important issues, such as:
- Is the business considered marital property?
- What role did each party play in business operations?
- What is the nature of business debts?
- What is the value of business profits, trade secrets, intellectual property, and other business property
In cases of a family business, it may be necessary to identify the ultimate goal of the business — will the business survive divorce or is the goal to sell the business?
We work with financial advisors, Certified Public Accountants (CPAs), and other specialists to conduct thorough analysis and valuation of the business. Then, we work with clients to negotiate the terms of a fair settlement agreement, or represent their interests at trial.
Contact us to discuss the importance of obtaining a business valuation in your divorce. We offer business valuation and asset protection services to clients throughout Orange County, California who are facing divorce.
